Search found 1484 matches

by Katietsu
Mon Aug 13, 2018 3:47 am
Forum: Personal Consumer Issues
Topic: Rental House Issue
Replies: 10
Views: 1200

Re: Rental House Issue

In my experience, you are required by law to limit your losses. So, you must use due diligence to get a new tenant in as soon as possible. You can not just let the place sit empty by choice until the end of the lease and have the “old” tenants pay the rent. The only way you could pursue the current ...
by Katietsu
Wed Aug 08, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to Respond to a "Proposed Amount Due" Notice From IRS
Replies: 15
Views: 1812

Re: How to Respond to a "Proposed Amount Due" Notice From IRS

The plan described in the original post is perfectly fine. I am not sure why you think it is not possible. You can say you agree with one proposed change but disagree with the second proposed change. And you can send a payment for the change you agree with. Being questioned about a 529 withdrawal is...
by Katietsu
Wed Aug 08, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Cash Gift to Sibling - Trust or...?
Replies: 7
Views: 882

Re: Cash Gift to Sibling - Trust or...?

Have you considered the tax implications of your plan? If this is done “off the books”, you could end up with an unnecessary enormous tax income tax bill down the line.

Please get good advice before proceeding.
by Katietsu
Tue Aug 07, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: Moving soon; whom to hire to help me move?
Replies: 26
Views: 2045

Re: Moving soon; whom to hire to help me move?

If the difference is really only going to be $700 vs $1000, I would be inclined to go with the full service company. I will say that there is no license needed to operate a moving company within my state. I would guess that hiring a full service moving company within the state would not alone guaran...
by Katietsu
Mon Aug 06, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Help! Death of Grandfather - creating to do list for Grandmther
Replies: 23
Views: 1679

Re: Help! Death of Grandfather - creating to do list for Grandmther

Thanks for the info! I did do some digging regarding the car insurance, and I thought I'd write here in case it affects anyone else. If the deceased is the only policyholder of the car insurance (which is the case here with my grandparents), then no one will be insured in that car until the policyh...
by Katietsu
Mon Aug 06, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Help! Death of Grandfather - creating to do list for Grandmther
Replies: 23
Views: 1679

Re: Help! Death of Grandfather - creating to do list for Grandmther

A couple posters have advised to get extra death certificates. I will just throw out a number. We requested 15 when my mother died in 2009. I have 4 originals left. I think we only had one or two originals returned to us. I found out that I needed very few. Local banks looked at original, made copy...
by Katietsu
Sun Aug 05, 2018 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Do We need health insurance??
Replies: 137
Views: 9106

Re: Do We need health insurance??

Also, here's one other option to consider - with that level of net worth you can easily get Canadian citizenship. That way, you shield yourself against any catastrophic events without having to pay the premiums. I will caveat Canadian health care system is really bad and a huge downgrade for those ...
by Katietsu
Sat Aug 04, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: retiring from military to federal job
Replies: 15
Views: 1541

Re: retiring from military to federal job

A minor consideration is that converting the military pension to a federal pension may result in a loss of certain breaks given for military retirement. The one that comes to mind is state income tax. Of the state’s with income tax, over 80% do not tax either any or part of the military retirement i...
by Katietsu
Thu Aug 02, 2018 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6010

Re: Nervous about not using a personal wealth manager. How do I do this myself?

tfb wrote:
Thu Aug 02, 2018 12:54 pm
Katietsu wrote:
Thu Aug 02, 2018 12:42 pm
I wonder if tfb noticed the VUL policy when he said there were no red flags.
Where? I didn't see anything posted by the OP. That said, if the plan isn't good, the OP should get a good plan and then follow it him/herself.
Sorry, I read two very similar threads back to back. My error.
by Katietsu
Thu Aug 02, 2018 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 6670

Re: DW job in dangerous area

To the OP: I would encourage your wife to explore the job and talk to her potential colleagues. I agree with the original thought process of the income from the job not being worth fearing for your life every day. However, like some of the others here (at least before he gun debate took over), I hav...
by Katietsu
Thu Aug 02, 2018 12:42 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6010

Re: Nervous about not using a personal wealth manager. How do I do this myself?

I would at least read The White Coat Investor: A Doctor's Guide To Personal Finance And Investing By James Dahle. It is a short read. And I am pretty sure it will save you more than the $20 purchase price by many times. It might not give you everything you need to do it on your own. But it should st...
by Katietsu
Wed Aug 01, 2018 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: High expense ratio worth it/Portfolio review
Replies: 48
Views: 3374

Re: High expense ratio worth it/Portfolio review

Having a DFA Advisor is not a bad thing. Having your advisor is a disaster. One more suggestion. Are you being paid as a contractor? No employees? If so, then go to Fidelity or Etrade and open a individual 401k instead of the SEP IRA. Roll over the money from the SEP and your traditional IRA into th...
by Katietsu
Wed Aug 01, 2018 4:29 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6010

Re: Nervous about not using a personal wealth manager. How do I do this myself?

My opinion is that you should not have a taxable retirement account while you have student loans. I would restrict your retirement savings at this point to only tax advantaged accounts, ie 401k, 403b, and IRA’s. The rest should be used to reduce your student loan balance. Maybe I am cynical, but I c...
by Katietsu
Tue Jul 31, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to prepare for "the talk"
Replies: 64
Views: 4897

Re: How to prepare for "the talk"

I'm in the same boat and I don't have much to contribute other than to say that I can sympathize. To those saying it's none of our business. Does it become my business when I start subsidizing their retirement? My parents will be forced to live with my sibling for their remaining years while I get ...
by Katietsu
Mon Jul 30, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5681

Re: Consistently over budget on food - what are you guys eating?

Make sure you do not create a relationship problem as you try to solve a budget problem. You are saving $6000 a month. IMO, if your wife values spending $450 a month on food instead of $350, you should respect that even if you would not make the same choice for yourself.
by Katietsu
Mon Jul 30, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5681

Re: Consistently over budget on food - what are you guys eating?

Does that include dining out or just groceries? How much are you actually spending? If you are $800 that's one thing, $1200 is a different scenario and would have other approaches for solution. Most likely that you are either including restaurant or non-food spend or you are eating lots of fresh fr...
by Katietsu
Sun Jul 29, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 4835

Re: Air Conditioning? [How to finance?]

It seems unlikely that you would get the AC installed before the temperatures started to drop a bit. I would be making plans to have it in by next summer.
by Katietsu
Sat Jul 28, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA to Roth IRA - Tax Planning Question
Replies: 12
Views: 850

Re: Traditional IRA to Roth IRA - Tax Planning Question

I agree that I am not sure there will be much of a difference regardless of which way you do it. You might be trading off some 12% for 10% tax bracket your way, but you are also hoping that the account value will be going up. Additionally, at age 23 and starting first full time job, your plans have ...
by Katietsu
Sat Jul 28, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Updating wills - when do they need to be more complicated?
Replies: 13
Views: 1170

Re: Updating wills - when do they need to be more complicated?

If the kids are young enough to need guardians, then you should be creating a trust. I recognize your concern about the kids getting access to significant funds at a young age, ie 18 or 21. But, possibly the bigger issue is what happens before that age. If you do not set up parameters for the manage...
by Katietsu
Thu Jul 26, 2018 3:37 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 9200

Re: Toughest Purchase of my Life. Engagement Ring time

For the record, I did intend on 5k being a reasonable amount on my situation. I'm ok with parting with that much money for this occasion. It's just that for $2800 more dollars, I can get exactly what I want (cut, carat, color, and clarity)... The only C is Cost. I'm starting to feel that the actual...
by Katietsu
Thu Jul 26, 2018 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Ex-Spouse and Will Executor Hasn't Paid Bequest
Replies: 33
Views: 4152

Re: Ex-Spouse and Will Executor Hasn't Paid Bequest

I could drop by my county courthouse and they would assist in looking up all the documents filed relating to the deceased’s estate and trust. Just another avenue to consider.
by Katietsu
Wed Jul 25, 2018 1:31 pm
Forum: Personal Consumer Issues
Topic: How to negotiate bills from hospital?
Replies: 22
Views: 1785

Re: How to negotiate bills from hospital?

I have paid bills from two hospitals in the last year. One gives 10% and the other a 20% off if you call and ask for a discount in return for paying in full on the phone with a ACH pull or a credit card. As to what you should have done.. if you need an ER, then you go to the ER. In return for their ...
by Katietsu
Tue Jul 24, 2018 6:13 pm
Forum: Personal Consumer Issues
Topic: Craigslist payment by PayPal - safe or scam?
Replies: 51
Views: 2926

Re: Craigslist payment by PayPal - safe or scam?

Just as a counterpoint, I've bought quite a few small items after conducting nationwide searches via a CL aggregator (seachtempest.com in my case). After I make contact with the seller and negotiate a price I break the news that I'm actually from out of town and that I'll need the item shipped to m...
by Katietsu
Tue Jul 24, 2018 4:29 pm
Forum: Personal Consumer Issues
Topic: Cablevisions Bill
Replies: 31
Views: 1326

Re: Cablevisions Bill

ok, so let's say I do Optimum internet which is probably like $50 plus fees, then I have to pay either $35-$50 for Direct TV now, then I am assuming I need something to get the Direct TV onto my TV which is something like a Roku or Amazon Fire Stick, which cost money, but only one time. I Tried usi...
by Katietsu
Mon Jul 23, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Car usage as independent contractor - reimbursement v. tax deductions
Replies: 16
Views: 1513

Re: Car usage as independent contractor - reimbursement v. tax deductions

I would keep the 14 cents a mile. And I would take the deduction on the Sch C for what will be a 40.5 cent,mile net.
by Katietsu
Mon Jul 23, 2018 9:26 am
Forum: Investing - Help with Personal Investments
Topic: Thank you for saving me from Fidelity $$$ advice! Now seeking help.
Replies: 15
Views: 2804

Re: Thank you for saving me from Fidelity $$$ advice! Now seeking help.

I am a bit worried that you are drawn to the high returns of the last year in your active funds. Remember that the “Bigger they are, the harder they fall.” Your allocation is making me fearful, so maybe you should be concerned. Follow the link to read about sequence of return risk. Are you ready to ...
by Katietsu
Mon Jul 23, 2018 7:36 am
Forum: Investing - Theory, News & General
Topic: Fidelity cash position
Replies: 55
Views: 6766

Re: Fidelity cash position

While I am not familiar with Fidelity's investment offerings, Vanguard's Prime Money Market Fund is yielding 2.04% presently. I don't see how the Prime MM fund is yielding over 2%.I always look at year to date and its under 1% even though only 1/2 year has gone by.Perhaps I am missing something. Wo...
by Katietsu
Sun Jul 22, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Location Independent (Nomad) Will
Replies: 20
Views: 1473

Re: Location Independent (Nomad) Living Will

These are very good points. I can see how having an advance medical directive might be very difficult if not impossible considering the differences in laws in each of those countries. With that on mind I would like to recast the question into how to best do asset distribution. Even when I don't pla...
by Katietsu
Sun Jul 22, 2018 7:21 pm
Forum: Personal Consumer Issues
Topic: I think it's time to cut the landline cord, how to do it?
Replies: 25
Views: 2863

Re: I think it's time to cut the landline cord, how to do it?

Are you using the WiFi hotspot off of your phone? I would think you would want to be looking at a freestanding hot spot to replace the DSL. Start by determining how much data you are currently using via DSL. You could then get a cheap tablet or cell phone without any cellular service and use google ...
by Katietsu
Sun Jul 22, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone Else Here Trying to Max Out 401k for the 1st Time in 2018?
Replies: 35
Views: 2614

Re: Anyone Else Here Trying to Max Out 401k for the 1st Time in 2018?

Do everything you can to max out your 401k at your old employer before leaving. I mean like 80, 90% of your paycheck, then after you leave immediately transfer those funds into a self controlled IRA. Last time I left a job I presented them with the transfer papers on my final day. You don't want to...
by Katietsu
Sat Jul 21, 2018 10:54 pm
Forum: Personal Consumer Issues
Topic: Suggestions About Simulating Homemade Chicken Stock
Replies: 28
Views: 1583

Re: Suggestions About Simulating Homemade Chicken Stock

Are the nights all hot as well? If there is a cool night, you could throw a chicken and vegetables into a crock pot overnight.
by Katietsu
Fri Jul 20, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: BB&T banking
Replies: 6
Views: 725

Re: BB&T banking

What kind of account? What kind of transfer of funds? This does not seem typical to me.

Are you getting charged for every transaction or are you exceeding the allowable number of transactions? Have you asked the bank customer service?
by Katietsu
Fri Jul 20, 2018 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on Financial Plan: PGY4 Orthopaedic / PGY4 ENT Residents
Replies: 11
Views: 731

Re: Advice on Financial Plan: PGY4 Orthopaedic / PGY4 ENT Residents

I would consider tweaking your priorities. 1. Get the books and the forms and do your 2017 taxes by hand. This will give you a feel for the tax laws while your financial life is simpler. You can then build on that with time. I see no way that your income is being taxed in the 24% bracket. In fact, d...
by Katietsu
Fri Jul 20, 2018 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 13144

Re: Should I Dump a Pile of Money on Young Son?

I would say the money might change him for the better. Someone choosing to drive a 22 year old car with no A/C in Texas might need the safety net of a extra cash in order to enjoy life. Many on this board, myself included, have made frugal decisions that, frankly, should better be described as depri...
by Katietsu
Wed Jul 18, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Semi-Retire by 40-45, possible/realistic?
Replies: 21
Views: 3610

Re: Semi-Retire by 40-45, possible/realistic?

You hope to have 1 million dollars and to withdraw 2% to use for expenses. That seems feasible. But here is where I am confused. Where are you getting the additional savings you will eventually need to fully retire? Do you expect the remaining assets from the $1 million dollars to grow enough to cov...
by Katietsu
Tue Jul 17, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Bored
Replies: 25
Views: 3507

Re: Bored

Did the OP say he had 3 young children and a wife who was not currently employed? If so, then you need to address life insurance. Possibly not enough now. Definitely not enough if you lose your job. Even if the workplace insurance is guaranteed convertible to an individual policy, it will probably b...
by Katietsu
Sun Jul 15, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7934

Re: Who are heirs? No will.

It's been a while since I've posted so I'd like to ask the question(s) in a differently way. Background: The deceased individual lived in Indiana had no will. His spouse, child, parents, grandparents, and siblings all predeceased him. The only related individuals surviving the decendent are his fir...
by Katietsu
Thu Jul 12, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stock to College Student - 2018 version
Replies: 12
Views: 870

Re: Gifting Appreciated Stock to College Student - 2018 version

So, this is a little tricky because some of it is tied in to the new tax laws which I am only glancingly acquainted with. By giving him up as a dependent, you would lose the $500 credit for dependents who are not eligible for the child tax credit. On the other hand, the son could take advantage of t...
by Katietsu
Thu Jul 12, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Keeping a checkbook register
Replies: 122
Views: 9335

Re: Keeping a checkbook

I am shocked at how many people have eliminated checks from their lives and yet continue to write a check for property taxes. My county has a fee to pay online :annoyed but no fee to pay by check. I just use my bank's billpay, who fires off a check twice a year on the date I specify. My tax parcel ...
by Katietsu
Wed Jul 11, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Credit score after becoming debt free?
Replies: 48
Views: 3733

Re: Credit score after becoming debt free?

We had a car loan for a few months to take advantage of a financing offer. Fico score supplied complimentary by a credit card company went up 30 points. Dropped back down after paying off the car. Sort of nuts but it is the way the model works. However, with a long history and no late pays, the lowe...
by Katietsu
Wed Jul 11, 2018 6:28 pm
Forum: Personal Consumer Issues
Topic: Living above means until March 1st
Replies: 16
Views: 2143

Re: Living above means until March 1st

Two cliches popped into my head when I read the post: -People first, then money, then things. -The Serenity prayer..Grant me the serenity to accept the things I cannot change, Courage to change the things I can, And wisdom to know the difference. Assess your situation. If you are putting things in o...
by Katietsu
Wed Jul 11, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stock to College Student - 2018 version
Replies: 12
Views: 870

Re: Gifting Appreciated Stock to College Student - 2018 version

Ok. So the responses are getting a little confusing because there are so many different facts that can affect the tax calculations. -How old will the son be on Dec 31? -Will the son be a full time student for at least part of 5 months of the year? -Would the parents qualify for the AOTC if the son w...
by Katietsu
Wed Jul 11, 2018 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stock to College Student - 2018 version
Replies: 12
Views: 870

Re: Gifting Appreciated Stock to College Student - 2018 version

The AOTC is a maximum of $2500. Of this, $1000 is available as a refundable credit. If you son provides more than half of his support, he would claim his own AOTC. If he had potential tax liability, he could offset it with the AOTC credit. However, if his tax liability was less than the potential cr...
by Katietsu
Tue Jul 10, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Grandmas Living Trust... Need Advice
Replies: 22
Views: 1429

Re: Grandmas Living Trust... Need Advice

What is the beneficiary situation like? In other words, if you are her only living relative and will be inheriting everything, then just using a payable on death account is pretty straightforward. But, the more potentially complicated the distribution of her funds, the more likely that a simple POD ...
by Katietsu
Tue Jul 10, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Grandmas Living Trust... Need Advice
Replies: 22
Views: 1429

Re: Grandmas Living Trust... Need Advice

Consider looking for a tax professional and paying for advice. Given the poor prognosis, I would not worry about trying to get a return over the next few months. It does make more sense to limit tax mistakes.
by Katietsu
Tue Jul 10, 2018 2:40 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA question
Replies: 11
Views: 642

Re: Inherited IRA question

I don't get this -- you reduce your RMDs by investing in an asset that won't make much money? If that's the goal, why not invest in Florida swampland. That will really reduce your RMDs. :happy Seriously, I don't get this; pls explain. The plan is about the placement of assets not about reducing ove...
by Katietsu
Tue Jul 10, 2018 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA question
Replies: 11
Views: 642

Re: Inherited IRA question

I don't get this -- you reduce your RMDs by investing in an asset that won't make much money? If that's the goal, why not invest in Florida swampland. That will really reduce your RMDs. :happy Seriously, I don't get this; pls explain. The plan is about the placement of assets not about reducing ove...
by Katietsu
Mon Jul 09, 2018 5:42 am
Forum: Personal Consumer Issues
Topic: WiFi router
Replies: 46
Views: 3945

Re: WiFi router

Adjustable external antennas can make a big difference. Also, consider placement of the router. If you can have it up high, away from walls and floors, not hidden in a cabinet, in a central location, then you are much more likely to be able to get satisfactory coverage with a conventional router.
by Katietsu
Sun Jul 08, 2018 6:23 pm
Forum: Personal Consumer Issues
Topic: Mailbox at UPS Store as Primary Address?
Replies: 12
Views: 1454

Re: Mailbox at UPS Store as Primary Address?

I move long distance every couple years as part of the job and have gotten a transitional mailbox during several moves. UPS Mailboxes work very well if there is a UPS Store nearby. They are available in a variety of term lengths, so a shorter period of time will be available for a local move. If no...
by Katietsu
Sun Jul 08, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Checkbook balancing software?
Replies: 31
Views: 1725

Re: Checkbook balancing software?

I am not sure what the actual request is. To me, balancing a checkbook involves reconciling the individuals records with the bank records. So, there needs to be an individual record. And it seems that the elderly relative wants that to be a checkbook registrar. I am not sure what purpose the softwar...